Business News

The US mint releases the first $1 coins in a series of Presidents of the United States. These new coins are intended for use in commerce as well as for collecting. To launch the new coins New Yorkers are invited to exchange their old paper dollar bills for the new dollar coin at Grand Central Terminal.

The first dollar coin has President George Washington. The coin is golden color with four coins with different presidents being announced each year. This year you will also see the release of John Adams, Thomas Jefferson and James Madison on the new dollar coins.

On the flip side of the coin will have an image of the Statue of Liberty on the edge of the coin the coin will have an inscription saying “E Pluribus Unum” and “In God We Trust.” Engravings on the edge of the coin haven’t happened since the 1930’s. It brings back memories of my Grandma giving out silver dollars to us as a gift. These coins could be quite collectible.

Richard Branson announced today that he will pay a $25 million prize for the first person to invent a method to remove greenhouse gases from the atmosphere. By removing the carbon dioxide from the atmosphere it would hopefully change to course of global warming.

Along with Branson was former U.S. Vice President, Al Gore, to help spread the word. Gore has been spreading his global warming recently in the documentary film, “An Inconvenient Truth.”

The prize being offered will hopefully spur the inventions that will turn around the global warming. Branson revealed the Virgin Earth Challenge by saying, "Man created the problem and therefore man should solve the problem."

Wal-Mart has already been in the music download business, but on Tuesday the retail giant has gone into the movie download business as well. So far their beta version is only offering around 3,000 movies and TV shows, but Wal-Mart hopes to add more content to their list.

Their repertoire includes movies from all of the major studios and some TV networks, including Fox Broadcasting. So far they have not included shows from ABC, CBS or NBC, but plans to assimilate them as well.

They sold their music downloads at a lower cost compared to rivals including Apple, and will likely do the same with their movies. So far many studios have resisted offering their movies through iTunes because Apple insisted on listing all of their movies for one price. Apple has only signed The Walt Disney Co. and Viacom Inc.'s Paramount Studios.

After 95 years on the market, Crisco shortening is changing the formulation to eliminate trans fat. The J.M. Smucker Co., the largest U.S. producer of jams and jellies, says that the new formula will function identically to the original.

"The performance is the same for those tried and true family recipes that people have come to rely on Crisco for," Smucker spokeswoman Maribeth Badertscher said Wednesday. Although Crisco is known for its low saturated fat content compared to butter and other substitutes, the new formulation doe not include any more saturated fat than before.

Apple Inc. introduced their state-of-the-art iPhone Tuesday which combines three devices into one. The iPhone has internet access, including browsing capabilities, maps, and email. The gadget is also an iPod with touch controls and a widescreen. The iPhone is also a phone of course, but Apple forgot to integrate a camera.

The company made their device ultra-thin and lightweight. The large “multi-touch” interface allows you control everything with your finger tips. Apple says this mobile device ushers in an era of “software power and sophistication never before seen”.

But there are already some problems. It appears that Cisco has trademarked and owns the name of their new phone. Cisco has the rights to the iPhone name. Apple has been in negotiations with Cisco for the rights and expects to sign an agreement soon.

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